People working full-time need to consider their present-day job situation and financial status before quitting to start their own business.
A permanent employee who plans to resign to pursue self-employment needs to consider important matters before quitting their day job. These considerations are tabled, given serious thoughts and acted on where necessary.
Consider the Following Before Resigning from Your Job
These things must be seriously assessed and evaluated before quitting a day job can be finalized.
Assess Your Situation
Self-evaluation is necessary. Evaluate your abilities, skills and education to decide whether you need additional training. It is also crucial to seek guidance from trusted people like professional friends and family. Ask yourself and these people if you have something to offer as a business owner. Study the characteristics of a good leader and successful business persons and see how you fit. Review the checklist for small business starting up and gauge how you fare, especially in self-discipline, setting goals, planning and flexibility.
Consider Your Present Job
Find out from your current employer about benefit plans, and factor this out in your goals. On physical well-being, especially if the company has employee health benefit schemes or insurance, this is the time to ensure you routine schedule physical, eye and dental examinations.
Resumé and/or CV should be kept updated. If there are available company-offered courses or training, this is the time to undergo this development and learning programs.
Evaluate Your Financial Status
Do you have enough savings to live by should you resign from your day job? Do you have good personal credit? If not, do something about it while still employed by establishing yourself accordingly. Save some money for a planned self-employment business. Some career advisers recommend savings of at least two years worth of living expenses before resigning to start your job. It is advisable to find out from human resource personnel about current possible employee benefits as information. At this point, there’s no need to reveal or elaborate on any plans of leaving.
Discuss Your Plans with Partner and/or Family
Family preparation is essential, especially for someone who is head of the family. The matter should be discussed with the partner or with other family members old enough to participate. Anyone who plans to change careers from a permanent job to self-employment could significantly impact everyone in the family. What they have to say is vital in your decision. Their support will be needed.
These practical tips will significantly help in decision-making when considering quitting a day job. It is also essential to research and learn thoroughly things entailed in a significant career change, including self-employment and the career you want to venture into. If necessary, a career adviser can be consulted.
